Exercise 3-15

Selected transactions for Cheyenne Corp. during its first month in business are presented below.

Sept. 1		Issued common stock in exchange for $18,500 cash received from investors.
5		Purchased equipment for $8,740, paying $2,760 in cash and the balance on account.
8		Performed services on account for $18,400.
14		Paid salaries of $1,600.
25		Paid $3,120 cash on balance owed for equipment.
30		Paid $860 cash dividend.

Complete a tabular analysis of the September transactions. For transactions affecting stockholders' equity, provide explanations in the far right column. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount antered for the particular Asset, Liability or Equity Item that was reduced. See Illustration -for example) eckholders' Equity Accounts Equipment Accounts Payable Revenues Expenses - Dividends Sept. 30 2000-2019 h Wie n , All Rights Reserved. At of the W e st Version 4.24.17.1 Journale the transactions. It ne entry is required select "No Entry for the accounts and enter for the amounts Credit accounts amo r e. Do not indent manually. Record journal entries in the order presented in the problem.) are automatically indented when Account Tities and Explanation Debit SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO VIDEO Post the transactions to T-accounts. (Post entries in the order of information presented in the question.) Cash Accounts Receivable Equipment Accounts Payable Common Stock Dividends A Service Revenue Salaries and Wages Expense